Consider the Scenario given below and attempt the questions that follow: COVID-19 Lockdown Price Freeze You have

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Question:

Consider the Scenario given below and attempt the questions that follow:

COVID-19 Lockdown Price Freeze

You have been appointed as the Marketing Manager of Makro, Massmart CEO Mitchell Slape has assigned you tasks and requires you to write a report that will be presented at the next Massmart Board meeting. You are encouraged to conduct further research on the company.

Background issues

1Massmart . is a South African firm that owns local brands such as Game, Makro, Builder's Warehouse, Cambridge Food and Cash & Carry stores.

2Massmart announces a price freeze in all their brands for the duration of the 21-day nationwide lockdown. This will involve. suspending price adjustments that were scheduled, as part of the normal

course of business, before the lockdown was announced. Fresh produce, which is procured daily from fresh produce markets around the country, is the only category that is not included in this announcement.

3Commenting on the decision, Massmart CEO Mitchell Slape said: “This is an unprecedented time for South Africa and the. world. As we all come to terms with the impact of the Covid-19 pandemic, we must do everything we can to support our customers. We are grateful to our suppliers who support this principled position.’

Task 4

Advise the Board about the possible future trends in the retail industry.